PARIS — Step aside, Gucci loafers, PPR executives are trying on Puma sneakers for size.
The French retail and luxury giant said Tuesday that it now owns a controlling stake of 62.1 percent of the German activewear giant. The deal, valuing Puma at 5.3 billion euros, or $7.3 billion at current exchange, is one of the biggest takeover plays of the year and has PPR straddling the highbrow world of luxury and the trend-oriented sports and lifestyle market.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)